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High Yield Fund

Daily price w/o sales charge as of 04/03/2020

$5.98

arrowDown$0.06

YTD Returns w/o sales charge as of 04/03/2020

-19.04%

Overall Morningstar Ratings

High Yield Bond
as of 02/29/2020

Morningstar rated the Lord Abbett High Yield Fund class A share 3, 4 and 5 stars among 621, 540 and 338 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 2/29/2020, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.
 

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 04/03/2020  

w/o sales charge 7.02%
w/ sales charge 6.86%

30-Day Standardized Yield 2 as of 02/29/2020  

4.37%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Expense Ratioas of 02/29/2020

Fund Basicsas of 02/28/2020

Total Net Assets
$6.85 B
Inception Date
12/31/1998
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
645
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -16.65% -10.78% -1.35% 1.63% 5.20% 5.84%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofAML U.S. High Yield Constrained Index -13.13% -7.46% 0.55% 2.67% 5.49% 6.06%
w/ sales charge -18.49% -12.81% -2.12% 1.19% 4.97% 5.73%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -16.65% -10.78% -1.35% 1.63% 5.20% 5.84%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofAML U.S. High Yield Constrained Index -13.13% -7.46% 0.55% 2.67% 5.49% 6.06%
w/ sales charge -18.49% -12.81% -2.12% 1.19% 4.97% 5.73%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.91%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

RELATED CONTENT

U.S. High Yield: Navigating Through the Volatility
March 31, 2020

Lord Abbett experts assess the challenges—and opportunities—they’re finding in today’s U.S. high yield market.

U.S. High Yield: What Does History Tell Us about Elevated Spreads?
March 20, 2020

During the past few decades, U.S. high yield spreads have rarely stayed above 800 basis points for very long. What are the implications for investors?

What High Yield Valuations Are Implying About the Forward Corporate Default Rate
March 19, 2020

The current market environment is leading many credit investors to more closely examine default and recovery expectations.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 02/28/2020 View Portfolio

Rating Assets
A
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

12 Years of Industry Experience

Supported By 65 Investment Professionals with 17 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 04/03/2020  

w/o sales charge 7.02%
w/ sales charge 6.86%

30-Day Standardized Yield 2 as of 02/29/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.37% 4.37%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -16.65% -10.78% -1.35% 1.63% 5.20% 5.84%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofAML U.S. High Yield Constrained Index -13.13% -7.46% 0.55% 2.67% 5.49% 6.06%
w/ sales charge -18.49% -12.81% -2.12% 1.19% 4.97% 5.73%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -16.65% -10.78% -1.35% 1.63% 5.20% 5.84%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofAML U.S. High Yield Constrained Index -13.13% -7.46% 0.55% 2.67% 5.49% 6.06%
w/ sales charge -18.49% -12.81% -2.12% 1.19% 4.97% 5.73%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

0.91%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
2019 15.07% 14.41%
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% 15.55%
2011 3.15% 4.37%
2010 14.31% 15.07%
2009 50.51% -
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
2002 -0.10% -
2001 5.36% -
2000 -3.01% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -16.65% - - - -19.01%
2019 7.50% 3.77% 0.28% 2.86% 15.07%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 03/31/2020

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 02/28/2020

Rating Assets
A
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 12/31/2019

  • From a sector standpoint, we have increased the cyclical tilt in the portfolio, adding to sectors exposed to consumer spending (leisure, consumer goods) as well as the automotive and energy sectors.
  • The portfolio is overweight the energy sector, with a focus on shorter maturity bonds in the exploration & production (E&P) segment based on our view on positive fundamentals of select credits within the sector.
  • The telecom sector remains the portfolio’s largest underweight, as we believe that, in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • In terms of credit ratings, we view the ‘BB’ tier as the most overpriced category in high yield, and are constructive on the lower-rated segment, notably ‘CCC’-rated credits, which we believe are trading at attractive valuations.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and stronger than expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 02/28/2020

Total Net Assets
$6.85 B
Number of Issues
645
Average Coupon
6.23%
Average Maturity
6.77 Years
Average Effective Duration
4.59 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
DISH DBS Corp. 7.750% 07/01/2026 1.3%
Sprint Capital Corp. 6.875% 11/15/2028 1.2%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125% 05/01/2027 0.9%
HCA, Inc. 5.500% 06/15/2047 0.7%
Tesla Motors, Inc. 5.300% 08/15/2025 0.7%
General Electric Co. 5.000% 12/31/2099 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.6%
Valeant Pharmaceuticals International, Inc. 8.500% 01/31/2027 0.5%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.5%
% of Total Assets 7.6%
Holding Coupon Maturity Assets
DISH DBS Corp.7.750% 07/01/20261.3%
Sprint Capital Corp.6.875% 11/15/20281.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.9%
HCA, Inc.5.500% 06/15/20470.7%
Tesla Motors, Inc.5.300% 08/15/20250.7%
General Electric Co.5.000% 12/31/20990.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.5%
Freeport-McMoRan, Inc.3.875% 03/15/20230.5%
Netflix, Inc.3.625% 05/15/20270.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
Intelsat Jackson Holdings SA5.500% 08/01/20230.5%
CSC Holdings LLC5.500% 04/15/20270.5%
Intesa Sanpaolo SpA5.710% 01/15/20260.5%
Numericable Group S.A.8.125% 02/01/20270.4%
Navient Corp.6.750% 06/25/20250.4%
CF Industries, Inc.5.150% 03/15/20340.4%
Pulte Group, Inc.5.000% 01/15/20270.4%
Navient Corp.6.125% 03/25/20240.4%
CIT Group, Inc.6.125% 03/09/20280.4%
AMC Networks, Inc.4.750% 08/01/20250.4%
Navient Corp.6.750% 06/15/20260.4%
RBS Global & Rexnord Corp.4.875% 12/15/20250.4%
CSC Holdings LLC10.875% 10/15/20250.4%
Bacardi Ltd.5.300% 05/15/20480.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
Western Digital Corp.4.750% 02/15/20260.4%
NRG Energy, Inc.5.750% 01/15/20280.4%
Tesla Motors, Inc.2.000% 05/15/20240.4%
Netflix, Inc.4.875% 04/15/20280.3%
DKT Finance ApS9.375% 06/17/20230.3%
MGM Resorts International4.625% 09/01/20260.3%
Beyond Meat Inc0.000% -0.3%
TransDigm, Inc.6.250% 03/15/20260.3%
MEG Energy Corp.7.000% 03/31/20240.3%
Newell Rubbermaid, Inc.5.625% 04/01/20360.3%
Lennar Corp.4.750% 05/30/20250.3%
Ziggo BV5.500% 01/15/20270.3%
Jagged Peak Energy LLC5.875% 05/01/20260.3%
Mclaren Finance PLC5.000% 08/01/20220.3%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.3%
MEG Energy Corp.7.125% 02/01/20270.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Synovus Financial Corp.5.900% 02/07/20290.3%
WeWork Cos Inc7.875% 05/01/20250.3%
Teladoc, Inc.1.375% 05/15/20250.3%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.3%
Freeport-McMoRan, Inc.5.250% 09/01/20290.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.3%
TRI Pointe Homes LLC5.250% 06/01/20270.3%
RingCentral, Inc.0.000% 03/01/20250.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Macquarie Bank Ltd./London6.125% 03/08/21670.3%
Ashland, Inc.6.875% 05/15/20430.3%
Transocean Poseidon Ltd6.875% 02/01/20270.3%
Radian Group, Inc.4.875% 03/15/20270.3%
Hadrian Merger Sub Inc8.500% 05/01/20260.3%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.3%
ViaSat, Inc.5.625% 04/15/20270.3%
NextCure Inc0.000% -0.3%
Century Communities, Inc.5.875% 07/15/20250.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
Great Wolf Trust 2019-WOLF4.790% 12/15/20360.3%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.3%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.3%
Radiology Partners Inc9.250% 02/01/20280.3%
GrubHub Holdings Inc5.500% 07/01/20270.3%
Yum! Brands, Inc.5.350% 11/01/20430.3%
IRB Holding Corp6.750% 02/15/20260.3%
Future Retail Ltd5.600% 01/22/20250.3%
Patrick Industries, Inc.7.500% 10/15/20270.3%
Apergy Corp6.375% 05/01/20260.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Summit Materials LLC5.125% 06/01/20250.2%
Popular, Inc.6.125% 09/14/20230.2%
PGT Innovations Inc6.750% 08/01/20260.2%
SM Energy Co.6.750% 09/15/20260.2%
Signature Aviation US Holdings Inc4.000% 03/01/20280.2%
Drive Chassis Holdco LLC10.084% 04/10/20260.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Mattel, Inc.6.750% 12/31/20250.2%
Taylor Morrison Communities Inc6.625% 07/15/20270.2%
Virgin Media Secured Finance plc5.500% 05/15/20290.2%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.2%
HCA, Inc.8.360% 04/15/20240.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
Ball Corp.4.875% 03/15/20260.2%
Netflix, Inc.4.625% 05/15/20290.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Murphy Oil Corp.5.875% 12/01/20270.2%
J Crew Group Inc.4.933% 03/05/20210.2%
Granite US Holdings Corp11.000% 10/01/20270.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Core & Main Holdings LP8.625% 09/15/20240.2%
Coty, Inc.6.500% 04/15/20260.2%
Brink's Co/The4.625% 10/15/20270.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Community Health Systems, Inc.8.125% 06/30/20240.2%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.2%
Arconic Inc6.750% 01/15/20280.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Sensata Technologies BV5.625% 11/01/20240.2%
BWAY Holding Co.7.250% 04/15/20250.2%
Murphy Oil USA, Inc.4.750% 09/15/20290.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
Fairstone Financial Inc7.875% 07/15/20240.2%
Yingde Gases Investment Ltd6.250% 01/19/20230.2%
DocuSign Inc0.500% 09/15/20230.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Kraft Heinz Foods Co.4.375% 06/01/20460.2%
Citgo Holding, Inc.9.250% 08/01/20240.2%
Stena AB7.000% 02/01/20240.2%
Parsley Energy LLC5.625% 10/15/20270.2%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.2%
Toll Brothers Finance Corp.4.350% 02/15/20280.2%
Oceaneering International, Inc.6.000% 02/01/20280.2%
Uber Technologies Inc8.000% 11/01/20260.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
SolarEdge Technologies, Inc.0.000% -0.2%
Verscend Escrow Corp9.750% 08/15/20260.2%
Hub International Ltd.7.000% 05/01/20260.2%
Adient Global Holdings Ltd.4.875% 08/15/20260.2%
Parexel Intl Corp.4.353% 09/27/20240.2%
Starfruit Finco BV / Starfruit US Holdco LLC8.000% 10/01/20260.2%
Minerva Luxembourg SA5.875% 01/19/20280.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Ally Financial, Inc.8.000% 11/01/20310.2%
LGI Homes, Inc.6.875% 07/15/20260.2%
CSN Resources SA7.625% 04/17/20260.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Itron, Inc.5.000% 01/15/20260.2%
Kaisa Group Holdings Ltd.9.375% 06/30/20240.2%
Adient US LLC7.000% 05/15/20260.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Thor Industries, Inc.5.438% 02/01/20260.2%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.2%
Numericable Group S.A.7.375% 05/01/20260.2%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.2%
Azul Investments LLP5.875% 10/26/20240.2%
BCPE Cycle Merger Sub II Inc10.625% 07/15/20270.2%
EW Scripps Co.5.125% 05/15/20250.2%
Wyndham Worldwide Corp.5.750% 04/01/20270.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Tenneco, Inc.5.000% 07/15/20260.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Kraft Heinz Foods Co.3.750% 04/01/20300.2%
TopBuild Corp.5.625% 05/01/20260.2%
Wynn Macau Ltd.5.500% 10/01/20270.2%
Coeur Mining, Inc.5.875% 06/01/20240.2%
GCI LLC6.875% 04/15/20250.2%
Diebold, Inc.8.500% 04/15/20240.2%
II-VI Inc5.103% 03/08/20260.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Kraft Heinz Foods Co.5.000% 06/04/20420.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Netflix, Inc.3.625% 06/15/20300.2%
United Rentals, Inc.4.875% 01/15/20280.2%
Sirius XM Radio, Inc.5.000% 08/01/20270.2%
Hecla Mining Co.7.250% 02/15/20280.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
William Carter Co.5.625% 03/15/20270.2%
Horizon Therapeutics USA Inc5.500% 08/01/20270.2%
Indigo Natural Resources LLC6.875% 02/15/20260.2%
Playtika Holding Corp7.603% 12/03/20240.2%
Belo Corp.7.250% 09/15/20270.2%
Beazer Homes USA, Inc.7.250% 10/15/20290.2%
Garda World Security Corp4.625% 02/15/20270.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
HCA, Inc.5.875% 02/01/20290.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Altran Technologies9.064% 06/26/20260.2%
Corecivic Inc.6.265% 12/12/20240.2%
BEP Ulterra Holdings Inc.6.853% 11/26/20250.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Oasis Petroleum, Inc.6.250% 05/01/20260.2%
Intesa Sanpaolo SpA5.017% 06/26/20240.2%
Muthoot Finance Ltd6.125% 10/31/20220.2%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.2%
HCA, Inc.7.500% 12/15/20230.2%
Ypso Finance Bis SA10.500% 05/15/20270.2%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Century Communities, Inc.6.750% 06/01/20270.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Alliant Holdings Intermediate LLC6.750% 10/15/20270.2%
Gray Television, Inc.5.875% 07/15/20260.2%
QEP Resources, Inc.5.250% 05/01/20230.2%
Yak Access LLC12.319% 07/10/20260.2%
Forming Machining Indust5.945% 10/09/20250.2%
Navient Corp.5.000% 03/15/20270.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Owens Corning4.300% 07/15/20470.2%
Industrias Penoles SAB de CV5.650% 09/12/20490.2%
Buckeye Partners L.P.6.375% 01/22/20780.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Pactiv Corp.7.950% 12/15/20250.2%
BRF SA4.875% 01/24/20300.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
IAA Inc5.500% 06/15/20270.2%
eG Global Finance PLC8.500% 10/30/20250.2%
Laredo Petroleum Holdings, Inc.10.125% 01/15/20280.2%
Compass Minerals International, Inc.6.750% 12/01/20270.2%
Sirius XM Radio, Inc.4.625% 07/15/20240.2%
American Woodmark Corp.4.875% 03/15/20260.2%
Mong Duong Finance Holdings BV5.125% 05/07/20290.2%
Masonite International Corp.5.750% 09/15/20260.2%
NVIDIA Corp.0.000% -0.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
Exgen Renewables IV, LLC4.620% 11/28/20240.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Con-way, Inc.6.700% 05/01/20340.2%
Springleaf Finance Corp.5.375% 11/15/20290.2%
Transportadora de Gas del Sur S.A.6.750% 05/02/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
VF Holding Corp8.853% 07/02/20260.2%
Ingevity Corp.4.500% 02/01/20260.2%
PetSmart, Inc.7.125% 03/15/20230.2%
Stevens Holding Co Inc6.125% 10/01/20260.2%
Centene Corp.4.250% 12/15/20270.2%
JB Poindexter & Co., Inc.7.125% 04/15/20260.2%
Fair Isaac Corp.4.000% 06/15/20280.2%
Lumentum Holdings, Inc.0.500% 12/15/20260.2%
Advisor Group Holdings Inc10.750% 08/01/20270.2%
Muthoot Finance Ltd4.400% 09/02/20230.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Huntington Bancshares, Inc.5.700% 12/31/20990.2%
Amsted Industries, Inc.4.625% 05/15/20300.2%
MEDNAX, Inc.6.250% 01/15/20270.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
Forterra, Inc.4.603% 10/25/20230.2%
Sealed Air Corp.6.875% 07/15/20330.2%
Univision Communications Inc.4.353% 03/15/20240.2%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.2%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.2%
Buenos Aires, Argentina7.500% 06/01/20270.2%
Exterran Partners L.P. / EXLP Finance Corp.6.250% 04/01/20280.2%
j2 Cloud Services LLC / j2 Cloud Co-Obligor Inc6.000% 07/15/20250.2%
MPH Acquisition Holdings LLC7.125% 06/01/20240.2%
Rackspace Hosting, Inc.8.625% 11/15/20240.2%
PBF Finance Corp.6.000% 02/15/20280.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Catalent Pharma Solutions Inc5.000% 07/15/20270.2%
Tenet Healthcare Corp.4.875% 01/01/20260.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)4.603% 02/03/20250.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
Buckeye Partners L.P.3.950% 12/01/20260.1%
Hess Corp.5.600% 02/15/20410.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Lululemon Athletica, Inc.0.000% -0.1%
Helix Gen Funding, LLC5.353% 06/03/20240.1%
ProAmpac PG Borrower LLC5.210% 11/20/20230.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
AES Corp.4.500% 03/15/20230.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Centene Corp.4.625% 12/15/20290.1%
Blue Cube Spinco, Inc.10.000% 10/15/20250.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
Qorvo, Inc.4.375% 10/15/20290.1%
Ecuador Government International Bond10.750% 01/31/20290.1%
Wynn Las Vegas LLC5.500% 03/01/20250.1%
Matador Resources Co.5.875% 09/15/20260.1%
CDW Corp.5.500% 12/01/20240.1%
SPCM S.A.4.875% 09/15/20250.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Badger Meter, Inc.0.000% -0.1%
Stena International SA6.125% 02/01/20250.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
NEP/NCP Holdco Inc8.794% 10/19/20260.1%
Centene Corp.3.375% 02/15/20300.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Netflix, Inc.3.875% 11/15/20290.1%
Titan Sub LLC6.603% 09/19/20260.1%
United Group BV3.625% 02/15/20280.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
Eoc Group Inc4.853% 02/28/20250.1%
Callon Petroleum Co.6.375% 07/01/20260.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Cheniere Energy Partners LP4.500% 10/01/20290.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
Dutch Lion BV11.250% 06/15/20200.1%
Province of Santa Fe6.900% 11/01/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Installed Building Products, Inc.5.750% 02/01/20280.1%
Nationstar Mortgage Holdings, Inc.6.000% 01/15/20270.1%
Select Medical Corp.6.250% 08/15/20260.1%
Buckeye Partners L.P.4.125% 12/01/20270.1%
Trinseo Materials Operating SCA5.375% 09/01/20250.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
Everbridge, Inc.1.500% 11/01/20220.1%
SM Energy Co.6.625% 01/15/20270.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di7.250% 02/01/20280.1%
Callon Petroleum Co.8.250% 07/15/20250.1%
Redfin Corp1.750% 07/15/20230.1%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.1%
Airxcel, Inc.6.103% 04/28/20250.1%
MHP Lux SA6.950% 04/03/20260.1%
Castle US Holding Corp9.500% 02/15/20280.1%
Summit Materials LLC6.500% 03/15/20270.1%
Lonestar II Generation H7.610% 04/20/20260.1%
KKR CLO 28 LTD0.000% 03/15/20310.1%
Mattel, Inc.5.450% 11/01/20410.1%
CMA CGM SA5.250% 01/15/20250.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Powerteam Services LLC9.089% 03/06/20260.1%
Project Boost Purchaser5.103% 05/22/20260.1%
LHC3 PLC4.125% 08/15/20240.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
Jaguar Land Rover Automotive plc6.875% 11/15/20260.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Rite Aid Corp.6.125% 04/01/20230.1%
Five9, Inc.0.125% 05/01/20230.1%
Trade Desk, Inc./The0.000% -0.1%
Frontera Generation Hold5.909% 05/02/20250.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Teekay Corp.9.250% 11/15/20220.1%
Province of Neuquen7.500% 04/27/20250.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Consolidated Communications, Inc.6.500% 10/01/20220.1%
AES Corp.5.125% 09/01/20270.1%
HealthSouth Corp.4.500% 02/01/20280.1%
Sonic Automotive, Inc.6.125% 03/15/20270.1%
Wabash National Corp.5.500% 10/01/20250.1%
Square, Inc.0.375% 03/01/20220.1%
Kernel Holding SA8.750% 01/31/20220.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Bridgebio Pharma Inc0.000% -0.1%
WPX Energy, Inc.5.250% 10/15/20270.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Credit Acceptance Corp.5.125% 12/31/20240.1%
Covanta Holding Corp.6.000% 01/01/20270.1%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.1%
Minotaur Acquisition Inc6.603% 02/27/20260.1%
Owens Corning4.400% 01/30/20480.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
Topgolf International, Inc.7.634% 02/09/20260.1%
NCI Building Systems, Inc.8.000% 04/15/20260.1%
Amsted Industries, Inc.5.625% 07/01/20270.1%
BNP Paribas S.A.4.500% 02/25/21700.1%
Trimas Corp.4.875% 10/15/20250.1%
Endeavor Energy Resources L.P.5.750% 01/30/20280.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Revlon Consumer Products Corp.5.750% 02/15/20210.1%
PPL Energy Supply LLC10.500% 01/15/20260.1%
Insulet Corp.1.375% 11/15/20240.1%
F-Brasile SpA / F-Brasile US LLC7.375% 08/15/20260.1%
Quicken Loans Inc5.250% 01/15/20280.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
GW B-CR Security Corp9.500% 11/01/20270.1%
Medallion Midland4.853% 10/31/20240.1%
Montreign Resort Casino9.853% 01/24/20230.1%
Optiv Sec, Inc.4.853% 02/01/20240.1%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.1%
Hughes Satellite Systems Corp.5.250% 08/01/20260.1%
Azure Power Solar Energy Pvt Ltd5.650% 12/24/20240.1%
KB Home4.800% 11/15/20290.1%
Cable One, Inc.0.000% -0.1%
SRS Distribution Inc8.250% 07/01/20260.1%
Doncasters US Finance LLC (Doncasters US LLC)5.445% 04/09/20200.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
EnerSys4.375% 12/15/20270.1%
Kraft Heinz Foods Co.4.625% 01/30/20290.1%
Rede D'or Finance Sarl4.950% 01/17/20280.1%
DPL, Inc.4.350% 04/15/20290.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
Mattel, Inc.5.875% 12/15/20270.1%
Holly Energy Partners L.P. / Holly Energy Finance5.000% 02/01/20280.1%
Carvana Co8.875% 10/01/20230.1%
CSL Capital, LLC8.250% 10/15/20230.1%
Akamai Technologies, Inc.0.375% 09/01/20270.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Ukraine Government7.375% 09/25/20320.1%
Spectacle Gary Holdings, LLC11.000% 10/17/20240.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Geo Group, Inc.6.000% 04/15/20260.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Arcor6.000% 07/06/20230.1%
Match Group, Inc.5.000% 12/15/20270.1%
Kuehg Corp10.195% 08/15/20250.1%
Banijay Entertainment SASU5.375% 03/01/20250.1%
Univar Solutions USA Inc/Washington5.125% 12/01/20270.1%
Western Institutional5.872% 12/12/20260.1%
Flynn Restaurant Group8.653% 06/29/20260.1%
Lithia Motors, Inc.4.625% 12/15/20270.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Ypso Finance Bis SA6.000% 02/15/20280.1%
Griffon Corp.5.750% 03/01/20280.1%
Shea Homes LP / Shea Homes Funding Corp.4.750% 02/15/20280.1%
MEG Energy Corp.0.000% -0.1%
Motion Bondco DAC6.625% 11/15/20270.1%
Shopify, Inc.0.000% -0.1%
Casey's General Stores, Inc.0.000% -0.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Boyne USA Inc7.250% 05/01/20250.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
AG Issuer LLC6.250% 03/01/20280.1%
Builders FirstSource, Inc.5.000% 03/01/20300.1%
PetSmart, Inc.8.875% 06/01/20250.1%
TGP Holdings III LLC10.277% 09/20/20250.1%
TransJamaican Highway Ltd5.750% 10/10/20360.1%
Hayward Acquisition Corp.5.103% 08/05/20240.1%
Station Casinos LLC5.000% 10/01/20250.1%
NEP/NCP Holdco Inc4.853% 10/05/20250.1%
Freeport-McMoRan, Inc.4.250% 03/01/20300.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
PTC, Inc.4.000% 02/15/20280.1%
CSC Holdings LLC5.750% 01/15/20300.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Shake Shack, Inc.0.000% -0.1%
CWGS Group, LLC (aka Camping World, Inc.)4.695% 11/08/20230.1%
United PF Holdings LLC0.000% 12/30/20260.1%
Froneri US Inc7.353% 01/29/20280.1%
Cloud Crane LLC10.125% 08/01/20240.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Norbord, Inc.6.250% 04/15/20230.1%
T-Mobile USA, Inc.6.500% 01/15/20260.1%
Tronox Inc6.500% 04/15/20260.1%
DexCom, Inc.0.750% 05/15/20220.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Nevro Corp.0.000% -0.1%
Block Communications, Inc.4.875% 03/01/20280.1%
Almonde, Inc.9.027% 06/13/20250.1%
Forestar Group, Inc.5.000% 03/01/20280.1%
United Natural Foods Inc5.853% 10/22/20250.1%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.1%
Micron Technology, Inc.5.327% 02/06/20290.1%
Under Armour, Inc.3.250% 06/15/20260.1%
Springleaf Finance Corp.7.125% 03/15/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Williams Scotsman International Inc6.875% 08/15/20230.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Wynn Macau Ltd.5.125% 12/15/20290.1%
Trivium Packaging Finance BV8.500% 08/15/20270.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Revlon, Inc. Class A5.113% 09/07/20230.1%
Triumph Group, Inc.7.750% 08/15/20250.1%
CSC Holdings LLC6.500% 02/01/20290.1%
Shockwave Medical Inc0.000% -0.1%
Scientific Games International, Inc.7.000% 05/15/20280.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Texas Roadhouse, Inc.0.000% -0.1%
Freeport-McMoRan, Inc.4.125% 03/01/20280.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Service Corp. International5.125% 06/01/20290.1%
Spotify Technology SA0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Bed Bath & Beyond, Inc.5.165% 08/01/20440.1%
Dometic Group AB3.000% 05/08/20260.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Hilton Domestic Operating Co, Inc.4.875% 01/15/20300.1%
Bright Horizons Family Solutions, Inc.0.000% -0.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Front Range BidCo Inc4.000% 03/01/20270.1%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Golar LNG Partners L.P.8.160% 05/18/20210.1%
Koppers, Inc.6.000% 02/15/20250.1%
Flynn Restaurant Group5.103% 06/27/20250.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
Panther BF Aggregator 2 LP / Panther Finance Co In4.375% 05/15/20260.1%
Generac Holdings, Inc.0.000% -0.1%
Gibson Brands, Inc0.000% -0.1%
Everi Payments Inc7.500% 12/15/20250.1%
Ball Corp.0.000% -0.1%
Pacific Drilling S.A.8.375% 10/01/20230.1%
Apple, Inc.0.000% -0.1%
Kansas City Southern0.000% -0.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Valeant Pharmaceuticals International, Inc.5.250% 01/30/20300.1%
CSN Islands XI Corp.6.750% 01/28/20280.1%
UAL Corp.4.875% 01/15/20250.1%
TCW CLO 2019-1 AMR Ltd4.792% 02/15/20290.1%
Titan International, Inc.6.500% 11/30/20230.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Restoration Hardware Holdings, Inc.0.000% 06/15/20230.1%
Crown Castle International Corp.0.000% 08/01/20200.1%
EyeCare Partners LLC5.418% 02/05/20270.1%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.1%
Viking Cruises Ltd.5.875% 09/15/20270.1%
Mattamy Group Corp.4.625% 03/01/20300.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Promontoria Holding 264 BV6.750% 08/15/20230.1%
QEP Resources, Inc.5.625% 03/01/20260.1%
Eclipse Resources Corp.8.875% 07/15/20230.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Ancestry.com Inc.5.860% 08/27/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Melissa & Doug5.435% 06/19/20240.1%
Front Range BidCo Inc6.125% 03/01/20280.1%
Party City Holdings, Inc.6.625% 08/01/20260.1%
Trident TPI Holdings Inc9.250% 08/01/20240.1%
ReNew Power Pvt Ltd5.875% 03/05/20270.1%
Service Corp. International4.625% 12/15/20270.1%
Kraft Heinz Foods Co.5.000% 07/15/20350.1%
Performance Food Group, Inc.5.500% 10/15/20270.1%
Transocean, Inc.6.800% 03/15/20380.1%
Numericable Group S.A.3.375% 01/15/20280.1%
Clearway Energy Operating LLC4.750% 03/15/20280.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.1%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.1%
NRG Energy, Inc.5.250% 06/15/20290.1%
Weekley Homes LLC / Weekley Finance Corp.6.000% 02/01/20230.1%
AES Gener SA6.350% 10/07/20790.1%
Transportes Aereos Portugueses SA5.625% 12/02/20240.1%
UTEX Industries5.603% 05/22/20210.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
HCA, Inc.7.690% 06/15/20250.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Denbury Resources, Inc.7.750% 02/15/20240.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)10.945% 11/26/20210.1%
Claire's Stores, Inc.8.421% 12/18/20260.1%
Moxie Patriot LLC7.392% 12/19/20200.1%
AT&T, Inc.2.875% 02/18/21700.1%
TIBCO Software Inc9.415% 02/13/20280.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Madison Park Funding XXVII Ltd4.419% 04/20/20300.1%
Claire's Stores, Inc.0.000% -0.1%
Cheniere Energy Partners LP5.625% 10/01/20260.1%
FTS International, Inc.6.250% 05/01/20220.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Presidio Holdings Inc4.875% 02/01/20270.1%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.1%
Octagon Investment Partners 44 Ltd8.609% 07/20/20320.1%
Masonite International Corp.5.375% 02/01/20280.1%
Nabors Industries Ltd.7.500% 01/15/20280.1%
Regatta XVI Funding Ltd5.803% 01/15/20330.1%
Nabors Industries Ltd.7.250% 01/15/20260.1%
Commercial Barge Line0.000% 11/12/20200.0%
Triumph Group, Inc.6.250% 09/15/20240.0%
Mclaren Finance PLC5.750% 08/01/20220.0%
Panda Power Funds6.750% 12/19/20200.0%
PTC, Inc.3.625% 02/15/20250.0%
Trivium Packaging Finance BV5.500% 08/15/20260.0%
Rite Aid Corp.7.500% 07/01/20250.0%
Nevro Corp.1.750% 06/01/20210.0%
American Energy-Permian Basin LLC12.000% 10/01/20240.0%
Asbury Automotive Group, Inc.4.750% 03/01/20300.0%
Asbury Automotive Group, Inc.4.500% 03/01/20280.0%
Fastball Mergersub LLC5.103% 01/22/20270.0%
Apex Tool Group LLC / BC Mountain Finance Inc9.000% 02/15/20230.0%
Trident TPI Holdings Inc6.625% 11/01/20250.0%
Polar US Borrower LLC6.625% 08/21/20250.0%
CIFC Funding 2013-III-R Ltd4.701% 04/24/20310.0%
EyeCare Partners LLC0.000% 02/05/20270.0%
UC Holdings0.000% -0.0%
Eoc Group Inc4.853% 02/26/20260.0%
Arcor6.000% 07/06/20230.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
Britax Childcare4.500% 10/15/20200.0%
Delhi International Airport Pvt Ltd6.450% 06/04/20290.0%
Lonestar II Generation H7.610% 04/20/20260.0%
Norbord, Inc.5.750% 07/15/20270.0%
FX USD/GBP 03/200.000% 03/05/20200.0%
Credit Suisse Group AG5.100% 01/24/21700.0%
United PF Holdings LLC0.000% 01/06/20270.0%
Tullow Oil plc7.000% 03/01/20250.0%
FGI Operating Company, LLC5.750% 05/15/20220.0%
Credit Default Swap1.000% 06/20/20200.0%
Commercial Barge Line0.000% 08/11/20200.0%
Spectacle Gary Holding0.000% 11/07/20250.0%
Jamestown CLO VII Ltd.4.394% 07/25/20270.0%
PG&E Corp6.979% 04/27/20210.0%
Chaparral Energy, Inc.0.000% -0.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX USD/GBP 03/200.000% 03/05/20200.0%
Remington Outdoor Co. Inc.0.000% -0.0%
FX USD/DKK 03/200.000% 03/13/20200.0%
Penson Technologies LLC0.000% -0.0%
Afren plc11.500% 02/01/20220.0%
FX EUR/USD 03/200.000% 03/09/20200.0%
Afren plc10.250% 04/08/20220.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Afren plc6.625% 12/09/20200.0%
Tonon Luxembourg S.A.6.500% 10/31/20240.0%
Templar Energy LLC0.000% -0.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
EURO-BOBL FUT Mar200.000% 03/10/20200.0%
EURO-BUND FUTURE Mar200.000% 03/10/20200.0%
Fairway Group Acquisition Company0.000% -0.0%
US 10YR ULTRA FUT JUN200.000% 06/30/20200.0%
General Motors Co.7.200% 01/15/20490.0%
US 5YR NOTE (CBT) JUN200.000% 07/06/20200.0%
US LONG BOND(CBT) JUN200.000% 06/30/20200.0%
US ULTRA BOND CBT JUN200.000% 06/30/20200.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
US 10YR NOTE (CBT)JUN200.000% 06/30/20200.0%
US 2YR NOTE (CBT) JUN200.000% 07/06/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX DKK/USD 03/200.000% 03/13/20200.0%
FX GBP/USD 03/200.000% 03/05/20200.0%
FX USD/EUR 05/200.000% 05/12/20200.0%
Credit Index Swap5.000% 12/20/20240.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 02/28/2020

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Basic Industry 0.0%
Consumer Goods arrowUp0.9%
Leisure arrowDown0.5%
Insurance 0.0%
Capital Goods arrowUp0.4%
Technology & Electronics arrowUp1.1%
Services arrowDown0.1%
Real Estate arrowUp0.6%
Energy arrowDown2.7%
Healthcare arrowUp0.4%
Telecommunications arrowDown0.8%
Automotive arrowDown0.1%
Other arrowUp0.5%
Banking arrowDown0.2%
Utility arrowDown0.7%
Transportation arrowDown0.1%
Media arrowUp0.2%
Retail arrowUp1.0%
Financial Services arrowUp0.3%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 04/03/2020
$0.102
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2020 $0.03497 $6.16
Daily Daily 02/29/2020 $0.03311 $7.31
Daily Daily 01/31/2020 $0.03409 $7.46

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2020
Daily Daily 05/31/2020
Daily Daily 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.44
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 04/03/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $6.12
$100,000 to $249,999 1.75% 1.50% $6.09
$250,000 to $499,999 1.25% 1.00% $6.06
$500,000 to $999,999 0.00% 1.00% $5.98
$1,000,000 to $5,000,000 0.00% 1.00% $5.98

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

Expense Ratioas of 02/29/2020

Fund Documents

Fund Documents

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* Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

 

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

 

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

 

+

Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

 

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and distribution fees.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1.50% if the shares are repurchased before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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